Archive for the ‘Tip Of The Day’ Category

The Best Business Structure for Your Real Estate

The #1 question we get at USTaxAid Services is “What business structure should I have?” It doesn’t matter whether it’s a big business, small business or real estate owner – this is the question we’re bound to get. Today we’re going to talk about the best business structure for your real estate. So, what is ...

Real Estate Investing with Your Pension Plan

Is it possible to buy real estate with your pension plan? Absolutely. But there are a lot of rules. You could write a book about it. In fact, I did “Tax-Free Real Estate Investing” talks about what you need to do to legally invest from your pension plan. Here are some of the highlights: Check ...

Record-Keeping Tips for Real Estate Investors

Wait! Don’t let your eyes glaze over quite yet. This really is important. If you have real estate investments, there are some records you’re going to need to keep. You will need to keep two types of accounting files: permanent and temporary. The permanent files are ones you keep for an extended period of time. ...

Tax Strategies for Real Estate Dealers

The last few articles have dealt with what happens if the IRS determines you have Real Estate Dealership status on your property sales. Now what? Here are three steps to building an effective tax strategy if you’re a Real Estate Dealer. Step #1: Remember that the Real Estate Dealer status is per property. Just because ...

Problems with Real Estate Dealer Status

In the last post, we talked about what it takes for the IRS to consider you a real estate dealer. Today let’s talk about why the Real Estate Dealer status matters. There are two main reasons why you should be concerned about a Real Estate Dealer tax status. You have a business, not an investment. ...

Do You Have a Fix and Flip Tax Problem?

If you buy a property with the intent to fix it and sell it or even to just sell it outright, without doing any fixing, then you are considered a Real Estate Dealer. That’s an important distinction because it means the IRS does not consider you an investor. You have a business. The Real Estate ...

To Aggregate or Not to Aggregate Real Estate Properties

Today’s post is about something critically important that most people get wrong. Not only that, the IRS knows that most people get it wrong. If you have income over $100,000 per year and you have real estate losses, you’re probably already painfully aware that you can’t take the full amount of those losses against your ...